Bitcoin Reclaims $68K Level, Dogecoin and Polkadot Register Impressive Gains (Market Watch)

Bitcoin’s price continued its uptick since the Saturday night slump and jumped above $68,000 and even neared $68,500 earlier today.

The altcoins are also slightly in the green today, with BNB going above $590 and ETH surging past $2,500.

BTC Above $68K

The primary cryptocurrency went through some enhanced volatility during the previous business week amid massive inflows toward the spot Bitcoin ETFs. It went from over $69,500 on Monday to $65,000 in just a few days to Wednesday. Another rally came that pushed it north for nearly $69,000 on Thursday, but the bears returned on Friday night and initiated another leg down.

It was driven by FUD around Tether and BTC slumped to $65,500 during the night. However, the bulls emerged almost immediately and drove bitcoin up to $67,000 during weekend.

The asset continued to gain traction during the early hours of Monday. It spiked above $68,000 and climbed to a multi-day peak of $68,500. However, it has lost some ground since then but still sits above $68,000.

Its market cap has risen to $1.350 trillion, while its dominance over the alts stands tall at 55.8% on CG.

Bitcoin/Price/Chart 28.10.2024. Source: TradingView

DOGE, DOT on the Rise

Elon Musk, known for his outspoken support for the world’s largest and oldest meme coin, did it again last night, posting a DOGE-related meme on X. The result was similar to previous such examples, and Dogecoin’s price jumped by about 3-4% in minutes. It now trades above $0.14.

Polkadot is the other notable gainer from the larger-cap alts. DOT has soared by 4% and sits close to $4.20. Ethereum is north of $2,500 after a 1.5% increase, BNB is above $590 following a 1.4% daily jump, while SOL, RP, TON, ADA, AVAX, SHIB, BCH, and LINK are also in the green.

In contrast, TRX, LEO, and SUI have charted some losses. In the case of SUI, the daily price drop is quite painful (-4%).

The total crypto market cap has bounced above $2.4 trillion and is up to $2.420 trillion now.

Cryptocurrency Market Overview. Source: QuantifyCrypto